Point72 Asset Management L.P. Acquires New Holdings in Banco Santander-Chile (NYSE:BSAC)

Point72 Asset Management L.P. purchased a new stake in Banco Santander-Chile (NYSE:BSAC - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 43,459 shares of the bank's stock, valued at approximately $902,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. grew its holdings in Banco Santander-Chile by 79.6% in the third quarter. Itau Unibanco Holding S.A. now owns 296,922 shares of the bank's stock valued at $6,164,000 after purchasing an additional 131,637 shares during the period. Mirabella Financial Services LLP acquired a new stake in Banco Santander-Chile in the 3rd quarter valued at $700,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Banco Santander-Chile by 9.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 233,454 shares of the bank's stock worth $4,847,000 after acquiring an additional 20,966 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Banco Santander-Chile during the third quarter valued at $461,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Banco Santander-Chile during the third quarter worth about $212,000. 6.42% of the stock is owned by institutional investors and hedge funds.

Banco Santander-Chile Price Performance

Shares of NYSE:BSAC traded up $0.10 during midday trading on Wednesday, hitting $19.44. The company's stock had a trading volume of 92,866 shares, compared to its average volume of 283,887. Banco Santander-Chile has a 12-month low of $17.73 and a 12-month high of $21.43. The company has a market cap of $9.16 billion, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.40 and a beta of 0.87. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.79 and a current ratio of 1.79. The business's 50 day simple moving average is $19.66 and its 200 day simple moving average is $19.74.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded Banco Santander-Chile from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Banco Santander-Chile currently has a consensus rating of "Hold" and a consensus price target of $21.50.

Banco Santander-Chile Profile

Banco Santander-Chile, together with its subsidiaries, provides commercial and retail banking services in Chile. It operates through Retail Banking, Middle-Market, Corporate Investment Banking, and Corporate Activities segments. The company offers debit and credit cards, checking accounts, and savings products; consumer, automobile, commercial, mortgage, and government-guaranteed loans; and Chilean peso and foreign currency-denominated loans to finance various commercial transactions, trade, foreign currency forward contracts, and credit lines, as well as mortgage financing services.